Case Summary
The Saradha Group ran Ponzi-style collective investment schemes that collapsed in eastern India and wiped out savings of small depositors.
Year
2013
Fraud Amount
โน2,500 Crore
Category
Ponzi
Sources
2 linked
The Saradha Group raised money from a large base of small investors in West Bengal and neighbouring states through schemes falsely sold as safe, high-return products.
When the structure collapsed in 2013, depositors, agents and politically connected intermediaries all came under investigation.
The scandal became one of India's defining examples of how unregulated deposit schemes prey on lower-income households.
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